Losing Dollar Supremacy… The Savage Consequences of Weaponizing the Dollar as a Political Cudgel
Losing Dollar Supremacy… The Savage Consequences of Weaponizing the Dollar as a Political Cudgel
It is good to have smart friends. Jeffrey Wernick, the owner of Bitchute, is one of my exceptionally smart friends and he just posted on his X account the following brilliant analysis – The 54-year reign of the US dollar as the world’s preeminent reserve currency is coming to an inglorious end and we, the American people, only have ourselves to blame:
The dollar’s reserve status is an exorbitant privilege. It lowers our borrowing costs, expands our fiscal room, and lets us export risk and import goods on uniquely favorable terms. But privileges are not entitlements. They are conditional. And they come with responsibilities. A reserve currency must satisfy three conditions. Liquidity, stability, and neutrality. The United States has always provided the first two. The third was assumed. It is no longer assumed.
A reserve currency is not just national money.
Continue reading the PDF below.
